Hartley Pensions is best known to us via Greyfriars SIPP which is one of a number of Pension Providers who failed due to internal mismanagement and were acquired out of administration by Hartley SIPP. However, Hartley themselves likely underestimated the legacy issues the assets they purchased would bring, being placed into administration themselves shortly afterwards. One can only imagine the stress for pensions savers who have their life savings invested in these schemes, especially those who are at pension age and hoping to gain clarity on what their pension holdings are still worth, how they can access their money and where to turn for compensation or redress if required. In a post GDPR regulated world, things are significantly more difficult which is why it is refreshing to see the regulator intervene in order to try and ensure positive client outcomes.
What has the FCA done?
The Financial Conduct Authority (FCA) has stepped in to address communication breakdowns between the administrators of the collapsed Hartley Pensions and Self-Invested Personal Pension (SIPP) clients seeking access to their funds.
The FCA has committed to facilitating information sharing to expedite the transfer of client assets to new providers.
An FCA spokesperson stated: “We are working closely with the joint administrators to ensure client transfers are processed swiftly. Our role includes aiding communication between administrators and clients to support this process.”
ShareSoc’s Advocacy Efforts
The investor advocacy group ShareSoc has been assisting Hartley Pensions clients since 2023, helping them regain control of their pension assets. The organisation has maintained regular dialogue with the FCA, raising individual cases where administrators have failed to provide adequate responses.
ShareSoc noted: “We’ve highlighted several client cases to the FCA, and their intervention has been instrumental in moving matters forward.”
To further support affected clients, ShareSoc has established the Hartley Pensions Client Support Group. Full members, who pay an annual fee of £60.50, can access personalised assistance. The group aims to:
· Help former Hartley Pensions clients facing challenges with their pensions.
· Collaborate with the FCA to prevent similar issues in the future.
ShareSoc has emphasised that its capacity to provide individual support is limited to full members due to resource constraints.
Background and Transfer Progress
Hartley Pensions entered administration in July 2022, following a series of acquisitions of SIPP portfolios from failed operators between 2018 and 2021. In June 2024, after due diligence by administrators UHY Hacker Young and coordination with the FCA, Morgan Lloyd, a pension management firm, was appointed to handle Hartley client transfers.
The transfer process is being conducted in phases, prioritising simpler investments. As of early 2025, administrators reported that transfers had begun, though some clients may face delays of up to a year before their pensions are moved to a new provider.
Our Thoughts
Whilst we are not positioned or regulated to advise on pensions and investments, as regulated solicitors we are authorised to act on your behalf and investigate matters to establish – have you been a victim of financial mis-selling or professional negligence? – are you owed money?
And
– If you are owed money, who can be held accountable in order to ensure you receive the maximum level of financial redress or compensation available to you.
In this case, it certainly doesn’t start and end with Hartley or Greyfriars SIPP, there are likely multiple parties involved who deliberately or inadvertently contributed to you losing money. We work on a no win no fee basis, so you can allow us to investigate on your behalf knowing that you will only pay us a pre-agreed percentage of any redress or compensation in the event we successfully win your claim.
Why not book a free consultation to learn more about how we may be able to help you with a claim involving pensions, investments or financial advice.
